Speaking at the 11th Delphi Economic Forum in Greece, Deputy Energy Minister Teodora Georgieva emphasized that if the European Union prioritizes energy security, it must establish robust support mechanisms. Georgieva noted that geopolitical crises, such as the one stemming from the war in Ukraine, consistently underscore the need for unified European responses. She stated that collective planning is essential for resolving systemic challenges.
Highlighting infrastructure development, the minister pointed to strategic actions, such as Bulgaria securing a 25-year natural gas agreement with Azerbaijan. Furthermore, she detailed Bulgaria’s increased role in regional energy supply, noting the activation of reverse flow through the Trans-Balkan gas pipeline following the commissioning of the Greece-Bulgaria Interconnector. This connection, alongside the Trans Adriatic Pipeline, is deemed crucial during times of crisis.
To further bolster regional capacity, Bulgaria is developing the Vertical Gas Corridor, which enhances the transport capacity for liquefied natural gas destined for Ukraine. In this regard, a joint letter is being prepared by participating ministers, calling for greater European support and competitiveness for the route, including bundled products for reserved capacity. Georgieva also addressed the energy mix, stressing that while renewables are vital, natural gas cannot be disregarded.
She advised that hydrogen development should occur later, allowing the market to dictate its timeline. The minister concluded by advocating for the development of nuclear energy, emphasizing the necessity of long-term planning and strategic positioning within the global energy sector.
Topics: #energy #minister #delphi
The EU really needs to move past rhetoric and create concrete, shared mechanisms for energy stability.